Tenants Terms & Charges

We believe in being completely upfront regarding our fees – so you can manage the cost effectively and don’t have to worry about any hidden charges along the way.

All fees shown below are inclusive of VAT.

Reservation Fee – £400 per property which is then deducted from the balance of money payable (e.g. Rent) 48 hours prior to the tenancy commencing.

Security deposit – In most cases this is equal to one and a half months’ rent.

Standard tenancy administration fee – 15 Days rent plus VAT.

E.g. if the monthly rental is £800 the fee will be £473.42 Inc VAT

This is calculated as £800 x 12 months = £9600 / 365 = £26.30 (daily rental) x 15 = £394.52 +VAT at 20% £78.90

 

These fees cover a variety of works depending on the individual circumstances of each tenancy and include (but are not limited to) conducting viewings, negotiating the tenancy, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employer, previous or existing landlord, drawing up and completing contracts.  This charge is applicable per tenancy, and not per individual tenant.

Additional Charges

  1. Guarantor reference – £72 inclusive of VAT.
  2. Express check-in fee – £72 inclusive of VAT when you want to move in within 5 working days.
  3. A new tenancy if you have a pet – 2 months’ rent as a deposit is required instead of the standard deposit indicated above.
  4. Change of occupier / re-referencing after making advance payment £216 inclusive of VAT.
  5. Replacing lost inventory £36 inclusive of VAT.
  6. Return of overpaid rent at end of tenancy (if sent back independently to deposit return) £36 inclusive of VAT.
  7. If cleaning, movement of furniture, garden maintenance or shopping for lost items are required after the end of the tenancy £36 per hour inclusive of VAT.
  8. Rent reminder letter £15 inclusive of VAT.
  9. Tenant lease extension/renewal £90 inclusive of VAT.
  10. Interest of 4% above the Bank of England base rate payable from the date on which the rent was due until the date on which it is actually paid.
  11. Stamp Duty Land Tax – payable on the tenancies where the rent exceeds £125000 please contact HMRC for further information.
  12. There is a surcharge of £1 for payments made by debit card or 3.5% surcharge for payments made by credit card.

Further details can be found in the document Renting a property – your guide as a tenant.


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